On August 27, SMIC rose 3.01% in regular trading, trading at HK$71.8/share, with turnover of HK$12.45 billion. The stock rebounded on the day the company is scheduled to release its H1 semi-annual report after market close.
Multiple institutions have recently raised their target prices significantly above the current share price. Goldman Sachs set a target of HK$153, China Merchants Bank International at HK$119, and Bank of Communications International at HK$108. The upgrades follow a Q2 earnings beat, with quarterly revenue exceeding US$3 billion for the first time, gross margin reaching 25.3%, and management stating no wafer price cuts within the year. Goldman Sachs further predicted that domestic chip self-sufficiency has reached approximately 70% by production volume, with industry capex expected to sustain double-digit growth through 2030.
The stock had previously declined over 6% cumulatively last week, with the current movement representing an oversold rebound supported by institutional capital inflows.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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